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Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
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Name : |
TAWAFFEQ AL AKHAWAIN INVEST COMM CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.10.2008 |
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Com. Reg. No.: |
4030183001, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuffs and automotive lubricants and greases |
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No. of Employees : |
40 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : TAWAFFEQ AL AKHAWAIN INVEST COMM CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 21st October 2008
Commercial Registration Number : 4030183001, Jeddah
Chamber Membership Number : 132099
Issued Capital : SR 300,000
Paid up Capital : SR 300,000
Total Workforce : 40
Activities : Distributors of general foodstuffs and automotive lubricants and
greases
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sayed Ahmed Ebraheem, Marketing Manager
TAWAFFEQ AL
AKHAWAIN INVEST COMM CO LTD
Registered &
Physical Address
Building : Gulf Plaza
Street : Al Madinah Street
PO Box : 9754
Town : Jeddah 21432
Country : Saudi Arabia
Telephone : (966-2) 6682182 / 6644007
Facsimile : (966-2) 6682136 / 6644013
Email : gm@taco.com.sa
/ saebraheem@taco.com.sa
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Name Position
·
Abdul
Wahab Mohamed Al Shingiti Managing
Partner
·
Dahman
Mohamed Mostafa Al Shingiti Partner
·
Sayed
Ahmed Ebraheem Marketing
Manager
·
Sayed
Ebraheem Khater Public
Relations Manager
·
Ahmed
Mostafa Darwish Financial
Controller
Date of Establishment : 21/10/1429
Hijri (corresponding to 21st October 2008)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030183001,
Jeddah
Chamber Member No. : 132099
Issued Capital : SR 300,000
Paid up Capital : SR 300,000
Name of Partner
(s)
·
Abdul Wahab
Mohamed Al Shingiti
·
Dahman
Mohamed Mostafa Al Shingiti
Activities: Engaged in the import and distribution of
general foodstuffs and automotive lubricants and greases.
Import
Countries: Europe and the
Far East.
Export
Countries: Africa
Operating Trend: Steady
Subject has a
workforce of 40 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales SR 12,625,000 SR 13,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s operating
history or the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.68 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.